skin in the game
According to Investopedia.com, it was über-investor Warren Buffett who coined the term “skin in the game.” It means putting your money where your mouth is, walking your talk, and so on.
Buffett’s context was the idea that corporations need to be managed by like-minded individuals who share a stake in the company, as epitomized by high-ranking insiders who use their own money to buy stock in the company that they are running.
Buffett is considered a conservative investor, yet this phrase of his evokes the visceral feeling of risk. Not foolish risk, but a willingness to bare your own living, bare, tender skin to demonstrate your commitment. Doing so may result in blood-loss. This is a quality I greatly admire, and, I am happy to know, which other people admire about our company.
And Dermalogica is now upping the game. We’re preparing to launch a global initiative for 2011 which really has nothing to do with exfoliating or moisturizing. It has everything to do with using the power of our brand, backed by our loyal customers, and also backed by a cash investment which will be donated by the Dermalogica Foundation.
The initiative is called FITE – Financial Independence Through Entrepreneurship, and it’s all about extending microloans to women around the world, so that they can rise out of poverty, provide for themselves and their families, and make their own way.
We’re designating five of our best-selling products to support this initiative, and involving our customers. Not only will a portion of sales from these items go toward FITE entrepreneurs; our customers will also be able to identify areas of the world and industries they want to support, then follow the progress of the individual recipient online.
Stay tuned for details — then join the fight to empower women, economically, around the world! If you don’t, then sorry, you just don’t have skin in the game.